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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 28,356 $ 34,814
Marketable securities 696,925 388,784
Accounts and other receivables 700 2,628
Prepaid and other current assets 21,178 5,467
Total current assets 747,159 431,693
Property and equipment, net 4,346 4,060
Operating lease right-of-use assets, net 3,898 2,577
Intangible assets 27,190 27,190
Other assets 9,747 107
Total assets 792,340 465,627
Current liabilities:    
Accounts payable 3,265 3,494
Accrued expenses 33,842 22,029
Current portion of operating lease liabilities 1,452 1,614
Current portion of long-term liabilities 942 3,988
Total current liabilities 39,501 31,125
Long-term portion of operating lease liabilities 2,361 928
Other long-term liabilities 3,473 4,403
Total liabilities 45,335 36,456
Commitments and contingent liabilities (Note 15)
Stockholders' equity:    
Convertible preferred stock, $.01 par value; 3,000,000 shares authorized; no shares issued and outstanding at December 31, 2024 and 2023
Common stock, $.001 par value; 297,000,000 shares authorized; 66,374,549 and 55,883,377 shares issued and outstanding at December 31, 2024 and 2023, respectively 66 56
Additional paid-in capital 2,298,849 1,823,168
Accumulated other comprehensive income 3,314 3,308
Accumulated deficit (1,555,224) (1,397,361)
Total stockholders' equity 747,005 429,171
Total liabilities and stockholders' equity $ 792,340 $ 465,627